diff --git a/homeassistant/components/ipma/__init__.py b/homeassistant/components/ipma/__init__.py
index 315362247a2..eec16a0c811 100644
--- a/homeassistant/components/ipma/__init__.py
+++ b/homeassistant/components/ipma/__init__.py
@@ -1,4 +1,5 @@
 """Component for the Portuguese weather service - IPMA."""
+import asyncio
 import logging
 
 import async_timeout
@@ -22,36 +23,31 @@ PLATFORMS = [Platform.WEATHER]
 _LOGGER = logging.getLogger(__name__)
 
 
-async def async_get_api(hass):
-    """Get the pyipma api object."""
-    websession = async_get_clientsession(hass)
-    return IPMA_API(websession)
-
-
 async def async_setup_entry(hass: HomeAssistant, config_entry: ConfigEntry) -> bool:
     """Set up IPMA station as config entry."""
 
     latitude = config_entry.data[CONF_LATITUDE]
     longitude = config_entry.data[CONF_LONGITUDE]
 
-    api = await async_get_api(hass)
+    api = IPMA_API(async_get_clientsession(hass))
+
     try:
         async with async_timeout.timeout(30):
             location = await Location.get(api, float(latitude), float(longitude))
-
-        _LOGGER.debug(
-            "Initializing for coordinates %s, %s -> station %s (%d, %d)",
-            latitude,
-            longitude,
-            location.station,
-            location.id_station,
-            location.global_id_local,
-        )
-    except IPMAException as err:
+    except (IPMAException, asyncio.TimeoutError) as err:
         raise ConfigEntryNotReady(
             f"Could not get location for ({latitude},{longitude})"
         ) from err
 
+    _LOGGER.debug(
+        "Initializing for coordinates %s, %s -> station %s (%d, %d)",
+        latitude,
+        longitude,
+        location.station,
+        location.id_station,
+        location.global_id_local,
+    )
+
     hass.data.setdefault(DOMAIN, {})
     hass.data[DOMAIN][config_entry.entry_id] = {DATA_API: api, DATA_LOCATION: location}
 
diff --git a/homeassistant/components/ipma/manifest.json b/homeassistant/components/ipma/manifest.json
index 23558600373..36dca71e957 100644
--- a/homeassistant/components/ipma/manifest.json
+++ b/homeassistant/components/ipma/manifest.json
@@ -3,7 +3,7 @@
   "name": "Instituto Portugu\u00eas do Mar e Atmosfera (IPMA)",
   "config_flow": true,
   "documentation": "https://www.home-assistant.io/integrations/ipma",
-  "requirements": ["pyipma==3.0.4"],
+  "requirements": ["pyipma==3.0.5"],
   "codeowners": ["@dgomes", "@abmantis"],
   "iot_class": "cloud_polling",
   "loggers": ["geopy", "pyipma"]
diff --git a/requirements_all.txt b/requirements_all.txt
index a59bc227e27..39ac68b68c0 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -1622,7 +1622,7 @@ pyinsteon==1.2.0
 pyintesishome==1.8.0
 
 # homeassistant.components.ipma
-pyipma==3.0.4
+pyipma==3.0.5
 
 # homeassistant.components.ipp
 pyipp==0.11.0
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 18a0dcb52fc..50fd38c35e3 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -1132,7 +1132,7 @@ pyicloud==1.0.0
 pyinsteon==1.2.0
 
 # homeassistant.components.ipma
-pyipma==3.0.4
+pyipma==3.0.5
 
 # homeassistant.components.ipp
 pyipp==0.11.0